Article: "Fighting over the Arctic"
Source: Russia Today
Excerpt(s): In the end of January Security Council’s new strategy of development of Arctic regions will be made public in Russia. Its main objective is participation in partition of natural recourses of the Arctic Ocean. However the USA are also not going to refuse their claims for Arctic regions. The President George Bush has published the instruction which contains the order to the Senate to ratify the international Law of the Sea Convention according to which the USA will participate in partition of Arctic regions with other countries in the nearest future, Kommersant business daily reports... Scientists consider that the continental shelf of the Arctic can contain about 20 per cent of world's reserves of hydrocarbons which are the main components of oil. Besides, on shelves of Barents and Kara seas unique gas deposits were found. Moreover the local fishing industry provides 15 per cent of total amounts of fish production in Russia... Until now the USA remains the last Arctic country which has not yet ratified Law of the Sea Convention. That interrupts international partition of the Arctic region. In May of last year five coastal countries of the Arctic Ocean - Russia, the USA, Canada, Norway and Denmark - have agreed to begin negotiations about partition of Arctic regions on the basis of existing conventions and have decided not to accept any new documents so far.
Link to Full Story: http://www.russiatoday.com/news/news/35911
Picture from Russia Today